Prices Rising - due to reckless printing of money

Since 1947, India’s real GDP has gone up only 15 times, but currency in circulation has disastrously multiplied by 462 times, pushing up the price level 51 times and destroying 98% of the value of the rupee. In over 100 years currency increased gradually to only Rs. 12,382 crore by 1980 but has now reached the astronomical figure of Rs. 6,02,706 crore. During the British period the price level went up only 3 times in 82 years, from 1857 to 1939. Even Singapore’s price level has gone up just 3 times in 47 years since 1961, while its real GDP has jumped up 35 times.

Contributed By:

Prof. Amit Dey

(Globsyn Business School)

Source: The Economic Times

Principles of economics

• People have tradeoffs
• The cost of something is what you give up to get it
• Rational people think at the margin
• People respond to incentive
• Trade can make everyone better off
• Markets are usually a good way to organize economic activity
• Governments sometimes improve market outcomes
• A country’s standard of living depends on its ability to produce goods and services
• Prices rise when the government prints too much money
• Society faces short-run tradeoff between inflation and unemployment.

Richa Shukla

Globsyn Business School

Welcome!

To a land of dismal science
To a land of self interested individuals
To a land of assumptions
To a land of curves and tangencies
To a land of built up models

This is how most management students Welcome! the subject. To them economics is a unique landscape composed of the above 5.

Alas! Essence of the subject withers and students remain deprive of their dynamic thinking power.

If you have read the above statement in between lines you have hit the point. Yes… it is the subject “Economics” which builds and embeds the mind with a unique thinking power and analytical ability.

Richa Shukla

(globsyn business school)